Iran seeking Chinese, Russian help with West Karoun oil fields
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Iran is in talks with China and Russia for the development of West Karoun oil fields, said Abdolreza Hoseininejad, CEO of Oil Engineering and Development Co.
He underlined that Chinese companies have recently proposed very high prices for developing Yadavaran field’s phase 2 and they need to reconsider their offers, IRNA news agency reported January 30.
However, he noted, Chinese companies are Iran’s “strategic partners” because they kept offering their cooperation in times when Iran was under economic sanctions.
He also referred to North Azadega Phase 2, noting, “Chinese companies claim the field has high risks, but we do not think so.”
Hoseininejad went on to say that Russian companies are not meant to return to Azar field. But, he added, they can propose developmental plans for Changuleh field.
He said Russians have already presented proposals about West Karoun fields.
Yadavaran, North Azadegan, South Azadegan, North Yaran, and South Yaran oil fields are dubbed West Karoun oil fields.
The Economy Council of Iran has approved the development of West Karoun oil fields as the largest joint oil fields development plan.
Investment of some $15.2 billion is projected for the plan over the course of four years.
The production capacity is scheduled to reach 1.4 million barrels per day by 2021.
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